In conventional business terms, lifestyle businesses typically have limited scalability and potential for growth because such growth would destroy the lifestyle for which their owner-managers set them up.
Some owner-managers add advisers to fill a gap in their own experience, others to add industry knowledge of a specific sector their company is targeting.
Significantly, a much larger percentage of professional managers (52 percent) compared with owners of production such as founders (18%), heirs (21%), and owner-managers (32%) had left their enterprises.
Thankfully, there's a world of difference between a corporate non-executive position and what an owner-manager of a small business will be looking for.